Credit union community raises over $53k via CUAid yet need for relief in Louisiana grows
Since activating the online disaster relief system CUAid a week ago for credit union people in Louisiana affected by the recent flooding, the National Credit Union Foundation (the Foundation) has collected over $53,000. However, the need for assistance has grown as the Red Cross said the Louisiana flooding “is likely the worst natural disaster in the United States since 2012’s Superstorm Sandy” and the Louisiana Credit Union League is reporting that the number of affected credit union employees will be around 150 to 200.
“Some employees are being housed in credit union board rooms because they have no place to go,” said Connie Major, EVP/CFO of the Louisiana Credit Union League. “This area has never experienced such a loss. Even worse: this is not a flood zone so many businesses and residents were not required to carry flood insurance. The devastation is beyond anything anyone could imagine and these residents need our help anyway possible.”
“CUAid is truly an example of the ‘people helping people’ philosophy that drives the credit union movement,” said Christopher Morris, Foundation Director of Communications. “The donations and support thus far has been amazing, but unfortunately, our credit union brothers and sisters in Louisiana still need assistance getting their lives back together.”
As donations are posted through CUAid.coop, the National Credit Union Foundation is coordinating with the Louisiana Credit Union Foundation in the disaster area to distribute money efficiently to affected credit union employees. 100% of the donations through CUAid goes to credit union disaster relief. In the event that all donations are not used for Louisiana flooding relief, the National Credit Union Foundation will transfer any and all unused funds to its “General Disaster Relief fund” for future disaster relief efforts.